Company being sold - redundancy rumours etc

Here_We__Go_Again

Hi all,

We were recently advised that the company I work for is being sold.

As it is in the public domain anyway I could post the link to the announcement, but not sure if it's necessary...

Were are one of a group of companies, our current owner is selling the whole of the UK section of the business. Currently waiting for approval from competition & markets authority but I fully expect it to go through.

We are told business as usual for time being

Rumours are plenty as you would expect, but it does seem likely that our particular company will suffer, with the land we are on being worth quite a lot of money and the side of the business we work in not being as profitable as it used to be. Rumours from a reliable source that there have being viewings of the land/building by perspective buyers too.

Is there anywhere I can look other than Googling 'Commercial Property Sales', regarding the sale of the land/building. I assume it won't be listed anywhere publicly.

What would the process be if they closed us alltogether?
Just redundancy and notice period for everyone ?

I would guess at 150 ish employees here

Anything else I should be looking at?

Feel like I should be doing something rather than sitting waiting for news - be it good or bad, the sooner we can work out what is going on the better.

Thank in advance

MovingForwards

Have a look at the company redundancy policy.

The employees might be tuped over to the buyer.

Here_We__Go_Again

Thank for the reply.

Yes we are being tupe'd over.

But obviously don't know where we stand after that, I haven't had time to research tupe as yet but will do some reading.

I know that I'm only entitled to statutory redundancy

MovingForwards

If you are tuped over then how are you being made redundant?

Tuped means your job / salary etc is the same, but just with the new company as your boss.

Or are the rumours you are being tuped then staff cuts?

getmore4less

Check planning, land worth more with change of use granted.
Might be obvious from local plan change of use won't be a problem.

TUPE won't help if they shut the place.

lincroft1710

Would suggest you seriously start looking for another job. I get the impression you are not optimistic about your current employment prospects

Here_We__Go_Again

Thanks all for the replies.

To be clear, nobody has been made redundant as yet.
But the consensus among employees is that there is likely to be some pretty major change in the coming months- be it redundancy or relocation or something else.

At this stage I'm looking at updating my CV etc, and getting an idea of the job marketplace. I'm not really wanting to 'jump before I'm pushed' as I've been there a long time and although statutory redundancy isn't much, i don't think I want to leave until I have to.

Maybe it will come to nothing but I'm trying to prepare for the worst.
It would be nice if my employer was a bit more open about the plans, but until the sale is 100% complete they are staying tight lipped.
Literally all we know for sure is change of owner and TUPE.

lincroft1710

If your workplace is closed down that's 150 people looking for new jobs. Anyone who got out earlier and is already in their new job will have somewhat of an advantage over the other 149